Report: Chiefs QB Patrick Mahomes to restructure contract, create $17M in cap space
Kansas City Chiefs QB Patrick Mahomes is helping the team out with their salary cap problems this offseason.
According to a report from ESPN’s Adam Schefter, the Chiefs and Mahomes will convert the entirety of Mahomes’ $21.7 million roster bonus into a signing bonus. That move will save the Chiefs roughly $17 million against the 2021 NFL salary cap.
The team was expected to restructure contracts on a number of players, including Mahomes. What wasn’t certain is that the Chiefs would convert the full amount of the roster bonus into a signing bonus. It saves the Chiefs the maximum amount this year, but it’ll also make Mahomes cap numbers greater in the years to come.
Tom Brady isn’t the only QB providing cap relief to his team; Patrick Mahomes is expected to do the same. Chiefs are expected to convert Mahomes’ $21.7 million roster bonus to a signing bonus in the coming days, which would save KC $17 million against the cap, per league sources.
— Adam Schefter (@AdamSchefter) March 12, 2021
Schefter added that this move should allow the Chiefs to do some free-agent shopping. The team, of course, has very apparent vacancies at the tackle position after releasing Eric Fisher and Mitchell Schwartz on Thursday. The team could also use upgrades at a number of other positions.
This also might not be the only contract restructure coming for the Chiefs. Players like Travis Kelce, Tyreek Hill and Chris Jones can free money for Kansas City with relative ease. It’s just a matter of how much cap space Brett Veach and company want to free up ahead of the start of the 2021 free agency period next week.
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